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he said he and his son calculated how much they pay in taxes, federal income tax, payroll tax, state sales tax, state property tax, gasoline tax, it added up to well over 50% of what they earned and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses says that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do, i bring down the tax rates, lower deductions and exemptions, the same idea by bowles-simpson, get the rate down to create more jobs. nothing better to create a balanced budget than having more people working, earning more money, paying more taxes, that's the most effective and efficient way to get the budget balanced. >> jim, you may want to move on to another topic. i would say this to the american people. if you believe we can cut taxes by $5 trillion and add $2 trillion of additional spending to the military that is not asking for, $7 trillion, to give you a sense, over ten years, that's more than our entire defense budget, and you think that by closing loop
he said he and his son calculated how much they pay in taxes, federal income tax, payroll tax, state sales tax, state property tax, gasoline tax, it added up to well over 50% of what they earned and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses says that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do, i bring down the tax rates, lower deductions and exemptions, the...
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i think it's a good idea. >> half of property taxes go to schools to be fair. tracy, the kids issue, you can get them out of your house two years earlier. what do you make about that? >> you know what, the money issue to me is separate from the academic development issue. i don't think these kids should be rushed through school. i do think there's a reason they need these years to develop as people. when you do look at the dollars and cents, there are a lot of people that live in towns that don't even have kids in the school system. close to 50% of their taxes are going to the schools that are not spending the money properly. if you can get a kid that can take advantage of every dollar given to them, they can get through the system and take advantage, why not? >> sally cohen, at the same time taxpayers are saying why not on the other end of the spectrum, because it's not just property taxes going to schools, but also look at all the fights we've had about teac teacher pensions and teacher salaries. get more kids out of school faster, save money. >> as taxpayers
i think it's a good idea. >> half of property taxes go to schools to be fair. tracy, the kids issue, you can get them out of your house two years earlier. what do you make about that? >> you know what, the money issue to me is separate from the academic development issue. i don't think these kids should be rushed through school. i do think there's a reason they need these years to develop as people. when you do look at the dollars and cents, there are a lot of people that live in...
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why not get rid of the company's and lower taxes for everyone? >> we never give out cash measure on how and expensive. we just give conditional incentives temporary tax relief. >> you have to do it to compete. to give up politician a checkbook is dangerous do anything new want to bring jobs to the state. they could be gone when the bill comes to do. you can win without doing that the seven think you governor daniels now rated number three and the most improved state not to maine court in new hampshire or north dakota. >> we are gaining on them. >> what about housing for amtrak or the post office? ♪ [ male announcer ] how do you make 70,000 trades a second... ♪ reach one customer at a time? ♪ or help doctors turn billions of bytes of shared information... ♪ into a fifth anniversary of remission? ♪ whatever your business challenge, dell has the technology and services to help you solve it. john: did you go to the post office website? we do. since then franklin was appointed the first postmaster the post office has grown and changed with a
why not get rid of the company's and lower taxes for everyone? >> we never give out cash measure on how and expensive. we just give conditional incentives temporary tax relief. >> you have to do it to compete. to give up politician a checkbook is dangerous do anything new want to bring jobs to the state. they could be gone when the bill comes to do. you can win without doing that the seven think you governor daniels now rated number three and the most improved state not to maine...
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Oct 7, 2012
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a battle over $5 trillion, your tax dollars, president obama says a tax cut by the governor would roll out benefits to only the wealthiest americans at the cost of the middle class. romney says, no matter how many times the president says it it is not true. who is telling the truth? i'm shannon bream, live in washington. we have representatives from both sides of the aisle. rnc chairman, reince priebus and dnc chairwoman, debbie wasserman-schultz. welcome. we start in washington with reince priebus. i want to talk about the unemployment numbers for september, 7.8%, the lowest since president obama has been in office. he said, you can't turn back now, america is moving in the right direction. has he made a case that we are seeing recovery? >> not at all. first of all, we will let the economists argue over the numbers. i know people are arguing over how you can could have 900,000ions found, a month before the election. i will let them argue about that. if it's all true and it all works out and it's not adjusted downward if a month, i think it's great for the country to see improvement in
a battle over $5 trillion, your tax dollars, president obama says a tax cut by the governor would roll out benefits to only the wealthiest americans at the cost of the middle class. romney says, no matter how many times the president says it it is not true. who is telling the truth? i'm shannon bream, live in washington. we have representatives from both sides of the aisle. rnc chairman, reince priebus and dnc chairwoman, debbie wasserman-schultz. welcome. we start in washington with reince...
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tax policy but not by to buy another issues. i was not present the day they shutdown the event but many were shouting there is no debate. no-space 48. that hit home. >> he was shouted down. john: somewhere outside the building and throwing rocks through the window? >> university reacted and condemned the action. unc denounce. but some people did not want to have the debate. some think my views are so illegitimate i should not say them. john: you go to campuses around the country. most illiberal others are silenced? >> that is fair. the culture is monolithic they don't seem interested to change that. they pass policies to make it more difficult for students to have minority viewpoints to speak out. john: and professors at lean left, 51% registered democrats. but only 14% are republican. social science is only 6%. >> 70 2% self identify as liberal. which is a big disparity between them and the general public. john: you were a junior when obama was elected? >> it was light a little of the colt it happened across the nation. john: n
tax policy but not by to buy another issues. i was not present the day they shutdown the event but many were shouting there is no debate. no-space 48. that hit home. >> he was shouted down. john: somewhere outside the building and throwing rocks through the window? >> university reacted and condemned the action. unc denounce. but some people did not want to have the debate. some think my views are so illegitimate i should not say them. john: you go to campuses around the country....
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now, governor romney believes with even bigger tax cuts for the wealthy and fewer regulations out wall street all of us will prosper, he would double down on the policies that led to the crisis in the first place. what is my plan? first, we create a million new manufacturing jobs the >>gregg: what do you think of the ad and the amount of money, the volume spent on advertising and the production? >> let me say the obama campaign is outspending romney by gigantic amounts. >> especially in swing states. >> swing states, yes. second, look, i have looked at all the ads, the obama campaign ads are generally better and they are more on target. the romney campaign has been all over the place. the ad we showed wasn't a bad ad but it was defensive in nature. this is not about advertising. this is about getting to the definition which you said which is important, 70 percent of the people think the government -- look, republicans have a 20-point lead on the fundamental philosophical question of more government/sliest government and they cannot get it in the selection. >> one of the reasons the pre
now, governor romney believes with even bigger tax cuts for the wealthy and fewer regulations out wall street all of us will prosper, he would double down on the policies that led to the crisis in the first place. what is my plan? first, we create a million new manufacturing jobs the >>gregg: what do you think of the ad and the amount of money, the volume spent on advertising and the production? >> let me say the obama campaign is outspending romney by gigantic amounts. >>...
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i want to cut taxes, president obama wants to raise taxes. historically that has been a devastating argument. for the president and joe biden to talk about raising taxes when you have millions and millions of americans out of work, it does not seem to work, and everyone knows the actual tax hikes will do almost nothing for the deficit. so it is just kind of catnip for the left. let's raise taxes on the rich. class warfare. i don't think it is a successful economic strategy, and i'm not sure it will or politically either. gerri: interesting days. that is for sure. you will have you back to talk more. when we come back to be searching for a deal, but prescription drugs online presents a all new sets of problems. we will explain. an age-old question resurfacing. can women have it all? are we dissing mother had? this is going to be a panel. you will love it. it will be a lot of fun. ♪ [beep] [indistinct chatter] [kids talking at once] [speaking foreign language] [heart beating] [heartbeat continues] [faint singing] [heartbeat, music playing lou
i want to cut taxes, president obama wants to raise taxes. historically that has been a devastating argument. for the president and joe biden to talk about raising taxes when you have millions and millions of americans out of work, it does not seem to work, and everyone knows the actual tax hikes will do almost nothing for the deficit. so it is just kind of catnip for the left. let's raise taxes on the rich. class warfare. i don't think it is a successful economic strategy, and i'm not sure it...
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the earned income tax credit. i doubled the earned income tax credit. it was signed under the tax credit. reagan started it. we started it with a strong support of republicans in congress. president bush dealt with that, then president obama increased the earned income tax credit for families with more than three children. this is a rejection of basically more than three decades of bipartisan policy to support working families. it's not a bunch of free loaders. there's only 4% of the total population who don't pay federal income tax and don't work and may not be looking for work. we now have the numbers on this, so, i think that most important thing for him is to find a way to relate to more people in these debates and speak to more of them. this is not the republican primary anymore. >> is he principled, do you think? mitt romney? >> that's not the issue, to me. i think he will -- i think he's principled in the sense that he will keep the commitments that he has made. almost all people when they run for president
the earned income tax credit. i doubled the earned income tax credit. it was signed under the tax credit. reagan started it. we started it with a strong support of republicans in congress. president bush dealt with that, then president obama increased the earned income tax credit for families with more than three children. this is a rejection of basically more than three decades of bipartisan policy to support working families. it's not a bunch of free loaders. there's only 4% of the total...
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but not dictions sufficient to take the taxes up. we hope the middle class will have a tax reduction even with the elimination of deductions and putting a cap on deductions actually gives more credibility because you can give the middle class more deductions. the governor also said if you have more incomes, you pay lower caps, in other words $17,000. the idea that taxes on the well-to-do and the successful and those who are making a lot money will not go down. middle classing we hope they will stay where they are, or come down. coming down is a possibility. the important part of this tax plan, is to remember, when you earn, say you earn $200,000 and you have $20,000 worth of deductions, so now you paying tax on $180,000. if you paid tax at 35 percent rate, obviously the rate will be below $35 percent because you do not pay on full $200,000. governor romney is saying reduce that rate and every dollar you earn offer the amount that uses up the tax deductions, you will pay the lowest rate on. it will encourage people to earn more money,
but not dictions sufficient to take the taxes up. we hope the middle class will have a tax reduction even with the elimination of deductions and putting a cap on deductions actually gives more credibility because you can give the middle class more deductions. the governor also said if you have more incomes, you pay lower caps, in other words $17,000. the idea that taxes on the well-to-do and the successful and those who are making a lot money will not go down. middle classing we hope they will...
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it's tax on capital gains. there are lots of people who believe it should be taxed as ordinary income. would you support moving the carried interest so it's taxed as interest rule. >> it came about always sweat equity. if someone came to you and said i want to open a restaurant. you take 80% of the profits and i'm take 20%. that's what care rid interest is. it's what the venture capital firms do and that's how people do. it incents people to look at it. all the way to farm countries to carried interest because we need to raise more revenue. >> what do you think of this man as a leader? he hired you, i assume. >> he gave me my first job back at bane company. he's an incredible family man. he's got a good sense of humor. it sometimes gets him in trouble but he geeset great sense of humor, and he's have very good sense of humor. i'm heartened by the fact that we have two fantastic candidates. i worked with president obama as well. they boenlt have a high degree of education and both knowledgebling. i think we're l
it's tax on capital gains. there are lots of people who believe it should be taxed as ordinary income. would you support moving the carried interest so it's taxed as interest rule. >> it came about always sweat equity. if someone came to you and said i want to open a restaurant. you take 80% of the profits and i'm take 20%. that's what care rid interest is. it's what the venture capital firms do and that's how people do. it incents people to look at it. all the way to farm countries to...
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would you give up the mortgage tax deduction for a lower tax rate? log on to gerriwillis.com, vote on the right hand side of the screen and all share the results of the end of tonight's show. coming up later, you will not want to miss this. joins us with his preview of tonight's debate and there will be a huge windfall for the government but a hit to your pocketbook. find out how much more un nearly every other american will be paying uncle sam if we drive over the fiscal cliff in january. nearly 1 billion people around the world don't have enough food to survive. we can't let this happen. there is something we can do about it. please join christina aguilera and yum! brands in the movement to fight world hunger by supporting the united nations world food programme. for more information, go to fromhungertohope.com. your contribution will feed children and save lives. together, we can stop the dying and start the living. and together, we can move people from hunger to hope. and together, we can move people why they're always there to talk. i love you,
would you give up the mortgage tax deduction for a lower tax rate? log on to gerriwillis.com, vote on the right hand side of the screen and all share the results of the end of tonight's show. coming up later, you will not want to miss this. joins us with his preview of tonight's debate and there will be a huge windfall for the government but a hit to your pocketbook. find out how much more un nearly every other american will be paying uncle sam if we drive over the fiscal cliff in january....
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payroll tax, real estate tax, gas tax, on and on and on. the president raises the rates to 5%, most businesses work on 5% or 8%. how much more can they sustain? that reduces jobs, kills us. neil: that's your point; right, dave? >> exactly. you know, there's no 5% there. our goal is 2 #.5%, neil. our goal -- >> if we're lucky. neil: goal is 2.5% -- >> in a good economy. 2.5% net in a good economy in the business we do today. add 5% there -- >> you're done. >> 2.5% in the red, that's right. neil: if you hear mitt romney saying i'm going to essentially get off your back, going to roll back regulations. he was not specific which, make sure the government cools it on taxes, didn't say to the degree of what allowances and writeoffs and deductions he limits, were you either troubled by the fact it might be a wash? that you, for example, in your case for your catering business, you might see, butch, no tax savings at all, but you might have a lower rate, but can't deduct as much. >> that will kill us. without disposable income for me to spend or gr
payroll tax, real estate tax, gas tax, on and on and on. the president raises the rates to 5%, most businesses work on 5% or 8%. how much more can they sustain? that reduces jobs, kills us. neil: that's your point; right, dave? >> exactly. you know, there's no 5% there. our goal is 2 #.5%, neil. our goal -- >> if we're lucky. neil: goal is 2.5% -- >> in a good economy. 2.5% net in a good economy in the business we do today. add 5% there -- >> you're done. >> 2.5%...
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he wants to give tax cuts to people over to -- 250. repeal the estate tax and he said he also wants to increase spending for the defense industry. so i don't -- it's right there. this is what he has been running on. he says this will spark economic revival. >> so we don't know is what the president will run on. lou: we do know. he has to run on his record. what he has done is not deliver on cutting the deficit. what he has done is create over $5 trillion in deficits. and a debt of $16 trillion in total. >> see him run his record. that is what he has done. lou: i want to understand something here. is there some way he doesn't run on his record? i'm sorry. >> for the last 20 muncie has been running and his record. lou: i'm not talking about that. i'm talking about right now. governor romney put him on his record, and that was his signature achievement. >> i promise you, what they will do, they're going to fire ever nuclear bomb they have. lou: had dirty. is that what you're saying? >> at the end of the day, the fact that the man stood on
he wants to give tax cuts to people over to -- 250. repeal the estate tax and he said he also wants to increase spending for the defense industry. so i don't -- it's right there. this is what he has been running on. he says this will spark economic revival. >> so we don't know is what the president will run on. lou: we do know. he has to run on his record. what he has done is not deliver on cutting the deficit. what he has done is create over $5 trillion in deficits. and a debt of $16...
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will go up whoever went in november. >> your effective tax income after taxes will go up. deductions will go down. that is in effect the same thing. what you should see is a reduction of the concern about the fiscal cliff crossing over. the congressional budget office said it is about a 1% reduction in gdp if we go over the cliff. that disappearing is good for us. cheryl: i want to revisit this issue with you. some stock and sector plays based on your research. we are so close to the election. if romney wins, stock winners will be care providers, interesting a healthcare provider there. >> and the defense contractors also. cheryl: we also showed that basically that defense will be a big loser if the president stays in office. >> there will be different winners and losers depending on who wins. and all environments, you do very well owning consumer brands that that people love. they take advantage of the growth of the middle class. what we suggest is who matters does when. if you are not sure, you should be in index funds. what you want to do after the next several years is
will go up whoever went in november. >> your effective tax income after taxes will go up. deductions will go down. that is in effect the same thing. what you should see is a reduction of the concern about the fiscal cliff crossing over. the congressional budget office said it is about a 1% reduction in gdp if we go over the cliff. that disappearing is good for us. cheryl: i want to revisit this issue with you. some stock and sector plays based on your research. we are so close to the...
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tax, irs penalties tax, luxury taxes, marriage license taxes, real estate taxes, i am editing as i go. etc. and etc. why did you include this list of different taxes in your book "freedom manifesto: why free markets are moral and big government isn't"? >> guest: it shows what you call government coercion. the creed of government. that is almost everything you do now, we really don't realize it. what is the first thing you do? you turn on the electricity. you then turn on the water. look at your utility bill. you have a cup of coffee and tea, sales tax, gasoline, go to work and that list doesn't even include the upcoming taxes on medical devices and the obamacare taxes, you could expand that for at least 16 coming that way. the bottom line is everything you do ends up getting taxed in that reduces your capacity to create resources and reduces your freedom. >> host: you also talk about the fact that tax withholding, we never think of that money. >> guest: yes, that came in world war ii. once upon a time, we paid taxes once a year and we made people contents of the income taxable rate. i
tax, irs penalties tax, luxury taxes, marriage license taxes, real estate taxes, i am editing as i go. etc. and etc. why did you include this list of different taxes in your book "freedom manifesto: why free markets are moral and big government isn't"? >> guest: it shows what you call government coercion. the creed of government. that is almost everything you do now, we really don't realize it. what is the first thing you do? you turn on the electricity. you then turn on the...
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i want to keep taxes down on small business so we can create jobs. this is about good jobs for the american people. >>neil: he swings, slams, scores, way too early to say if the swing states swinging back to the challenger but after last night, the critics say they probably stopped swinging away. larry said the race ain't over but he also is saying for the challenger it is an uphill fight. what do you make of last night and how this changes the dynamics? >> everyone, obviously, just about everyone, from right to left, says that romney won the debate. i gave you a full "a" and i give the president a "c" minus. there was a giant difference between their performance. everyone who was fair was impressed with how romney handled that from going to end. obama was stunned by how well romney was performing. he seemed almost to take a step back and tune out. >>neil: do you think he came in to it is on the clock, the president, to your point he didn't expect this, and he saw little risk in taking on mitt romney and even if romney did well it would not move the
i want to keep taxes down on small business so we can create jobs. this is about good jobs for the american people. >>neil: he swings, slams, scores, way too early to say if the swing states swinging back to the challenger but after last night, the critics say they probably stopped swinging away. larry said the race ain't over but he also is saying for the challenger it is an uphill fight. what do you make of last night and how this changes the dynamics? >> everyone, obviously, just...
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did the vice president give critics an opening when he talked about a tax hike. let's listen. >> you know the phrase they always use? obama and biden want to raise taxes by a trillion dollars. guess what? yes, we do, in one regard. we want to let that $1 trillion tax cut expire so the middle class doesn't have to bear the burden of all the money going to the super-wealthy. >> does the vice president's style create a risk for the democratic ticket? >> he does. you know, it's something that they've been watching with joe biden for years, but joe biden has been preparing for an entire week. by thursday when the debate happens, he will have spent almost a week at his home in wilmington preparing. and when he is prepared, he is much better in that he doesn't make those same gaffes. when he nose what it is that he needs to say and he's not going off the cuff in this style, he does better. >> on thursday, joe biden went aggressively after governor romney on taxes. let's take a look at that. >> you just never know what game or what position governor romney's going to com
did the vice president give critics an opening when he talked about a tax hike. let's listen. >> you know the phrase they always use? obama and biden want to raise taxes by a trillion dollars. guess what? yes, we do, in one regard. we want to let that $1 trillion tax cut expire so the middle class doesn't have to bear the burden of all the money going to the super-wealthy. >> does the vice president's style create a risk for the democratic ticket? >> he does. you know, it's...
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he was right in saying 47% don't pay income taxes. you talk about lifting those people up so they can make it in america. that's what they want. they want to become taxpayers, and that's where he was totally wrong and tonal deaf. that's why i said that night, they're not victims. >> but his response right now is saying he was completely wrong, which is different than what he said earlier, saying he stated it ineloquently. >> i think what he was saying is he was completely wrong in speaking pejoratively of the 47%, and he was wrong to do that. he is wrong about the basic economics of our country. but we have gotten to a point where the country is paying no income taxes and taking advantage of the role of government. does that mean too high, too low? that's a good argument to get into. >> i'm utterly confused right now. >> you're only confused because he's trying to explain the comment from mitt romney, and now ari is trying to explain the new comment from mitt romney where he was very clear in saying he was wrong. ari, there is no need
he was right in saying 47% don't pay income taxes. you talk about lifting those people up so they can make it in america. that's what they want. they want to become taxpayers, and that's where he was totally wrong and tonal deaf. that's why i said that night, they're not victims. >> but his response right now is saying he was completely wrong, which is different than what he said earlier, saying he stated it ineloquently. >> i think what he was saying is he was completely wrong in...
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on top of the extension to the bush tax cuts. >> i don't have a $5 trillion tax cut. i don't have a tax cut. of a scale that you're talking about. i will not reduce the share paid by high income individuals. i know that you and your running mate keep saying that and i know it's a popular thing to say with a lot of people burks it's just not the case. look, i got five boys, i'm used to people saying something that's not always true. >> health care, romney was on offense, touting what he passed in massachusetts as an example of a bipartisan compromise and a model for the whole country at the state level. >> we've seen this model work really well. in massachusetts because governor romney did a good thing, working with democrats in the state to set up what is essentially the identical model. >> i like the way we did it in massachusetts. entirely on a partisan basis instead of bringing america together and having a discussion at this important topic, you pushed through something that you and nancy pelosi and harry reid thought something was the best answer and drove it thr
on top of the extension to the bush tax cuts. >> i don't have a $5 trillion tax cut. i don't have a tax cut. of a scale that you're talking about. i will not reduce the share paid by high income individuals. i know that you and your running mate keep saying that and i know it's a popular thing to say with a lot of people burks it's just not the case. look, i got five boys, i'm used to people saying something that's not always true. >> health care, romney was on offense, touting what...
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a tax cut that ads to the deficit. that is part one. there is no economist that can say mitt romney tax plan adds $5 trillion if i say i will not add to the deficit with my tax plan. >> if you are lowering the rates the way you describe, governor, it is not possible to come up with enough deductions and loopholes that only affect high overincome individuals to avoid either raising the deficit or burdening the middle class. it is math. >>trace: which candidate had the upper hand and how much was accurate? with me is the associate editor of the financial weekly owned by the parent of this company. michael, romney says if you lower the tax rates what happens is, businesses have more money. businesses have more money they can hire more people and, guess what, everyone starts paying taxes and that is how you close the deficit. true? >>guest: it is true that is what he is saying. it is true that is the way a model would have it play out. the question and what assumptions go in that assertion by lowering rate and obviously on
a tax cut that ads to the deficit. that is part one. there is no economist that can say mitt romney tax plan adds $5 trillion if i say i will not add to the deficit with my tax plan. >> if you are lowering the rates the way you describe, governor, it is not possible to come up with enough deductions and loopholes that only affect high overincome individuals to avoid either raising the deficit or burdening the middle class. it is math. >>trace: which candidate had the upper hand and...
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i will not raise tax on middle income families. i'll lower taxes on middle income families. martha: by our count president obama mentioned the middle class 19 times, clearly a focus of every presidential election. let's talk about this. lanny davis joins me now. and jonah goldberg is the editor at large for the national review. welcome, jonah. lanny, you listened to all that. what do you think? >> i'm not very happy with the president's performance. i think he did poorly. i agree with him on substance. i think he got the better of the exchange regarding the facts and the policy. but for the obama campaign to put the spokesman on and i'm sure she is doing her best and not to admit he had a bad night and to say we ought to do fact check when the fact checkers have rated obama's ads with four pinocchios. the way to do this is to say look at governor romney. smile, be gracious. don't look down and take notes while a man is talking to you. it's as simple as admitting he had a bad night. but on policy and substance i'm still voting for him. i know she doesn't believe she was sayin
i will not raise tax on middle income families. i'll lower taxes on middle income families. martha: by our count president obama mentioned the middle class 19 times, clearly a focus of every presidential election. let's talk about this. lanny davis joins me now. and jonah goldberg is the editor at large for the national review. welcome, jonah. lanny, you listened to all that. what do you think? >> i'm not very happy with the president's performance. i think he did poorly. i agree with him...
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we don't want to tax more people with bad tax policy. we want to grow the middle class and get people back to work with higher take home fay. the secret to this is economic growth, chris. the premise of the conversations and tax reform point is as if the economic pie is fixed and that it is governments if job to redistribute the slices. is not how the world works. we want to grow the pie and we want economic opportunity. we want people to be able to get a better job and have more income security and higher take home pay and you can do that through economic growth and that is what we are trying to provide and what we can get if we put the progrowth policies in place. >> chris: a number of top republicans say that when romney picked you as his runng mate a little over a month ago that they thought that this indicated that you guys were going to run a bold reform agenda campaign and now expressing some frustration that instead of you changing romney you heard this that they feel that romney is changing you and you are running a much more ca
we don't want to tax more people with bad tax policy. we want to grow the middle class and get people back to work with higher take home fay. the secret to this is economic growth, chris. the premise of the conversations and tax reform point is as if the economic pie is fixed and that it is governments if job to redistribute the slices. is not how the world works. we want to grow the pie and we want economic opportunity. we want people to be able to get a better job and have more income...
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embrace the cut, gone on the offense of the tax cut if i was mitt romney. at one point after mitt romney said, look, mr. president, what you say is not true. it's not the case that it will necessarily result in a tax hike for the middle class. he said it three times, and the last time, president obama said, okay, because there's a new -- there's a column written by by colleague at the weekly standard who interview the the director who came up with the original study that found that was going to result in a middle class tax hike and said, in fact, no, it doesn't mean there's a mitt l class tax hike, a significant reversal suggesting the obama camp is not on solid ground making the claim. gerri: one possible explanation. bob woodward said, wow, you know what might have happened? the president got bad foreign affairs information before the debate. doug, are you buying that? >> not at all. presidents compartmentalize, the correspondent's dinner, the president told joke and the next day, a successful raid on bin laden. gerri: no excuses? >> no excuses. gerri: th
embrace the cut, gone on the offense of the tax cut if i was mitt romney. at one point after mitt romney said, look, mr. president, what you say is not true. it's not the case that it will necessarily result in a tax hike for the middle class. he said it three times, and the last time, president obama said, okay, because there's a new -- there's a column written by by colleague at the weekly standard who interview the the director who came up with the original study that found that was going to...
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when people are moving to the tax roles rather than welfare roles you can reduce tax rates, or welfare spending and bring it back faster. >>neil: it is about inspiring confidence. ronald reagan did that, bill clinton did it. but this idea that we can't do it and certainly when pundits say further candidate should even touch it tomorrow night, that gets to the core of the problem. >>guest: that is exactly correct. this is the issue. all the issues that we are talking about in the economy are encompassed inside the national debt argument. you can get rid of the unfunded liabilities, as well, just the way we did with social security under ronald reagan by tending the age of retirement, by reducing benefits, by subjecting half of them to the income tax. there are lots of things you can do to bring this economy back and fairly quickly in two terms you could bring it back the way reagan did. >>neil: the fact is you cannot buy your way out it. you have to boom your way out of it. thank you, art. >> in washington, dc, talk of a plan to keep the government from going off an immediate fiscal cli
when people are moving to the tax roles rather than welfare roles you can reduce tax rates, or welfare spending and bring it back faster. >>neil: it is about inspiring confidence. ronald reagan did that, bill clinton did it. but this idea that we can't do it and certainly when pundits say further candidate should even touch it tomorrow night, that gets to the core of the problem. >>guest: that is exactly correct. this is the issue. all the issues that we are talking about in the...
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liz: lowering taxes improve the picture is what i am hearing you say. thank you for joining us. david riley of sovereign rating saying the triple the-credit rating for spain will remain the same even if they ask for a bailout plan. we are 16 minutes from the closing bell. walmart, target, bed bath and beyond. the want to get a read on their health? head to cleveland where real-estate investment trust td are which focuses on value oriented shopping malls coming up. we are talking to corp.'s ceo, daniel her when on whether the commercial real-estate is keeping up with the housing recovery. he has 1 twenty million square feet of it. stay tuned. agree window. liz: we are live at cleveland's rock-and-roll hall of fame and open for business. fox business focusing great american cities with business stories. you own stock in values force like wal-mart and target. want to know how they are doing? look no further than read which focuses on value oriented shopping malls. dan hurwitz is the ceo of this publicly traded company. stock is up 39%. business must be good. >> business is good and
liz: lowering taxes improve the picture is what i am hearing you say. thank you for joining us. david riley of sovereign rating saying the triple the-credit rating for spain will remain the same even if they ask for a bailout plan. we are 16 minutes from the closing bell. walmart, target, bed bath and beyond. the want to get a read on their health? head to cleveland where real-estate investment trust td are which focuses on value oriented shopping malls coming up. we are talking to corp.'s ceo,...
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tax cut. my plan is not to put in place any tax cut that will add to the deficit. my view is we ought to provide tax relief to people in the middle class but i'm not going to reduce the share of taxes paid by high income people. we have 23 million people out of work. or stop look for work in this country. >> eliot: here's how the obama campaign responded to some of the claims. with an ad released this afternoon that relied on fact checkers. >> mitt romney has not laid out specifics for how he would pay for his tax cut. he says it's by reducing deductions and closing loopholes but he hasn't said which or how many. so the verdict here the simply incomplete. >> eliot: by the way that 23 million unemployed claim is also incorrect. off by only eight million people. romney also attacked the president on the obama care issue. >> romney: cut $716 million from medicare to pay for it. i want to put the money back in medicare for our seniors. it puts in place an unelected board that's going to tell peopl
tax cut. my plan is not to put in place any tax cut that will add to the deficit. my view is we ought to provide tax relief to people in the middle class but i'm not going to reduce the share of taxes paid by high income people. we have 23 million people out of work. or stop look for work in this country. >> eliot: here's how the obama campaign responded to some of the claims. with an ad released this afternoon that relied on fact checkers. >> mitt romney has not laid out specifics...
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i don't have a tax plan that is 4.8 trillion, i am not going to cut taxes on the rich. i don't have a voucher plan, i love teachers, i think we need more of them. don't believe me, speaker gingrich was eloquent in the primaries, saying that mitt romney will say absolutely anything to get elected. >> the president had 90 minutes, now, if he had done his homework and prepared, if he had actually studied romney, why didn't he say it? virtually every analyst has said, and even your deputy campaign manager has said the charges -- was made wrong. forgetting that for a second, the job of the president is supposed to be able to be competent and to stand up for what he believes in and articulate what is wrong. mitt romney walked over him. >> and alex, you mentioned the president is air born to the golden state, a star studded concert with katy perry, and tuesday, campaigning in ohio, meanwhile, mitt romney had a rally last night in florida and stays in florida for a second day, more campaign events later in that swing state. >> yeah, i think you left out george clooney, because
i don't have a tax plan that is 4.8 trillion, i am not going to cut taxes on the rich. i don't have a voucher plan, i love teachers, i think we need more of them. don't believe me, speaker gingrich was eloquent in the primaries, saying that mitt romney will say absolutely anything to get elected. >> the president had 90 minutes, now, if he had done his homework and prepared, if he had actually studied romney, why didn't he say it? virtually every analyst has said, and even your deputy...
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that he would not cut taxes at all if they added to the deficit at all. now, as "the washington post" reporter checks out, for two years rom hi has been campaigning on a tax cut that would cost around $5 trillion over ten years. he said he would eliminate deductions and spending to pay for it. he never offers details. he did say he would cut funding for public broadcasting which was 0.01% in 2012. medicaid was 0.13%. romney also spoke in favor of regulations including much of the dodd/frank bill and he repeatedly held up as a model his health care plan in massachusetts which has added center the individual mandate and on which obama care is based. romney's transformation did not happen overnight. the candidate has been reworking his stuck stuck speech. he has a five-point stump speech. the first four points are absolutely identical to obama's stump speech. 2, dough mess tech energy, 3, retraining programs, four, domestic. on five they differ. i've long argued that romney is an intelligent man trapped in a party that has forced him to embrace extreme and i
that he would not cut taxes at all if they added to the deficit at all. now, as "the washington post" reporter checks out, for two years rom hi has been campaigning on a tax cut that would cost around $5 trillion over ten years. he said he would eliminate deductions and spending to pay for it. he never offers details. he did say he would cut funding for public broadcasting which was 0.01% in 2012. medicaid was 0.13%. romney also spoke in favor of regulations including much of the...
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the economy is languishing worse where looking for more tax hikes and four years ago it was zero tax hikes? we have all been hit now we know how the middle-class and people will be affected. obamacare has at least seven pin tax hikes and 30 more on top of that. charles: we discover a couple more every month. [laughter] but i know this bothers you. the vice president throws numbers out there that the rich are getting over $1 trillion from view. that never seems out of left field but resonates better they got tired of talking about millionaires and billionaires. >> i am spectacular the perplexed by joseph biden. at least the is consistent. this is simply incorrect if the administration believes by raising taxes we can get ourselves into solvency, he is simply incorrect. mitt romney talking about the tax issues how to back out of this situation was awesome. >> i don't know if they believe this helps economically with us verses them redressing the wrongs for those who benefited the most until four years ago. >> we have seen this obama's touting the buffer role with the minimum tax for mi
the economy is languishing worse where looking for more tax hikes and four years ago it was zero tax hikes? we have all been hit now we know how the middle-class and people will be affected. obamacare has at least seven pin tax hikes and 30 more on top of that. charles: we discover a couple more every month. [laughter] but i know this bothers you. the vice president throws numbers out there that the rich are getting over $1 trillion from view. that never seems out of left field but resonates...
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king: the death tax in my view as i long said the cigarette tax on the american dream. when people come to this country, they see the statue of liberty and they know that it's the first generation to be a struggle for them, they want to open the door for the next generation and the next generation. when my great-grandfather came here he had nine children, they brought - sections of land and he wanted all nine children to live on the 160 acres as a family farm and each generation then to grow from there. it didn't work out for him because the stock market crash and 29 but that is the american dream. if you spend a lifetime or maybe even two or three generations building a unit, a unit that may be as a feed lot and a pastor and land in home places and the irs comes in in the death tax and says i've got to have 55% or 35% of the and you have to sell that off it destroys the unit. it's not the sum of the total was worth more than the sum of the parts. it's a direct attack on the american dream and i am for abolishing the tax. [applause] >> moderator: mrs. vilsack we are run
king: the death tax in my view as i long said the cigarette tax on the american dream. when people come to this country, they see the statue of liberty and they know that it's the first generation to be a struggle for them, they want to open the door for the next generation and the next generation. when my great-grandfather came here he had nine children, they brought - sections of land and he wanted all nine children to live on the 160 acres as a family farm and each generation then to grow...
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that is why i voted to continue the last set of tax cuts because the republicans held middle-class tax cuts hostage to the tax cuts for the wealthy. my fight was to expand the child tax credit. my fight was to create the educational opportunity tax credit that help new jerseyans get their kids educated, and my fight that i lead with a republican colleague was to ensure that more than 2 million new jerseyans don't get hit by the alternative minimum tax in additional tax they should never be subject to. i succeeded working with republican colleagues. >> here are the facts. everybody's tax rates are going to go up in january. that is the plan. that is the schedule. i think i just heard that is what the senator and braces and wants. it's not about millionaires or billionaires. it's about the middle-class. that you supposedly care so much about, because those are the people that work for the small businesses that will be disproportionately impacted. one out of six people in america who work in the private sector will be impacted by these tax rates. the national federation of independent bus
that is why i voted to continue the last set of tax cuts because the republicans held middle-class tax cuts hostage to the tax cuts for the wealthy. my fight was to expand the child tax credit. my fight was to create the educational opportunity tax credit that help new jerseyans get their kids educated, and my fight that i lead with a republican colleague was to ensure that more than 2 million new jerseyans don't get hit by the alternative minimum tax in additional tax they should never be...
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credits and tax rates. cutting tax rates gives you incentive to invest in plant and equipment which then allows you to hire people, because you're going to get to keep an extra amount of money on each dollar of profit you make. cutting tax credits does not hurt incentive, because tax credits are temporary and does not encourage investment. >> steve, i want to keep it on the simplification, because that's success i can identify with. i haven't my own taxes in a long time. the reason is, because it's just too complex. i'm not a small business. if i was a small business, i'd have to do devote hundreds of hours of time, a lot of money, to figuring the thing out. >> that's right. the irs has figured out, david, that last year we spent 6.5 billion hours filling out tax forms, the equivalent of 2 1/2 million full-time jobs. it cost the economy $300 billion a year. huge waste of brain power. so yes, tax simplification is absolutely essential. paul ryan, the vice presidential candidate, has an even better plan than
credits and tax rates. cutting tax rates gives you incentive to invest in plant and equipment which then allows you to hire people, because you're going to get to keep an extra amount of money on each dollar of profit you make. cutting tax credits does not hurt incentive, because tax credits are temporary and does not encourage investment. >> steve, i want to keep it on the simplification, because that's success i can identify with. i haven't my own taxes in a long time. the reason is,...
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i don't believe romney has proposed raising taxes on on the middle class, he is raising reckless tax cuts. that i would support. >> the answer, the argument really is who do you trust to make thebetter going forward? it seems the president is winning that argument. ashley: perhaps he has been very successful in business, could be a good option. >> exactly. the regular americans really don't start looking at this stuff until three weeks before the election. people might start paying attention. who do you trust? how can you trust barack obama going forward when it failed so miserably the past four years by joe biden's own admission. that is even if you nt to blame rusch, you have a guy in the white house who promised us he would make things better, he is made things worse, he is a failure. >> i am not one of these crazy who do not believe the evidence in front of my eyes. clearly the argument is resounding and working. but you know what, he is very good. ashley: would never have enough time. want to touch on the debate very quickly and what you think the key issues are tomorrow night i
i don't believe romney has proposed raising taxes on on the middle class, he is raising reckless tax cuts. that i would support. >> the answer, the argument really is who do you trust to make thebetter going forward? it seems the president is winning that argument. ashley: perhaps he has been very successful in business, could be a good option. >> exactly. the regular americans really don't start looking at this stuff until three weeks before the election. people might start paying...